He said, “We (BRICS) agreed that a lasting solution to the problems in Syria and Iran can only be found through dialogue.”

Brazilian President Dilma Rousseff has also said last year that she does not “support any embargo policy” and “escalation of pro-violence rhetoric.” She has called for “opening a room for compromise solution” on Iran.

Russia hosted a formal meeting of BRIC National Security Advisers (NSAs) in May 2009 to discuss the security implications of the global financial and economic crisis.

The second meeting of BRIC NSAs was held in Brasilia in April 2010 followed by a third in Sochi, Russia in October 2010.

BRICS now boast about 42 per cent of the world’s population and more than a quarter of its land.

According to IMF estimates, the five had a combined nominal gross domestic product of $13.6 trillion in 2011, about 19.5 per cent of the global total.

Since 2010, more than 50 per cent of global growth has come from the BRICS, and it has become an important force in easing the international financial and economic crisis, driving regional and global economic growth.

57 founding members, many of them prominent US allies, will sign into creation the China-led Asian Infrastructure Investment Bank on Monday, the first major global financial instrument independent from the Bretton Woods system.

Representatives of the countries will meet in Beijing on Monday to sign an agreement of the bank, the Chinese Foreign Ministry said on Thursday. All the five BRICS countries are also joining the new infrastructure investment bank.

The agreement on the $100 billion AIIB will then have to be ratified by the parliaments of the founding members, Chinese Foreign Ministry spokesman Lu Kang said at a daily press briefing in Beijing.

The AIIB is also the first major multilateral development bank in a generation that provides an avenue for China to strengthen its presence in the world’s fastest-growing region.